DFM PAT - Outsourcing and platforms 
For some time now, The Platforum have been surveying the increasingly interdependent relationship between adviser firms and outsourcing partners, predominantly Discretionary Fund Managers (DFMs). Over the last year, platforms and other 3rd parties have acted as facilitators for outsourcing, providing access, tools and other services for advisers to link with DFMs, model portfolios and multi-manager solutions.
PAT walks you through some of the outsourcing services for advisers made available via platforms.
This FREE Service is available to all here
DFM PAT is intended to be a source of information to demystify the evolving relationships between advisers, DFMs, platforms and the end client
PAT
PAT is our foxy online Platform Analysis Tool. PAT includes user ratings and more: financial strength, momentum, price and functionality. She’s also opinionated – what are specific platforms good at and what sort of advisers do each suit.
- “Create My Leaderboard” – customised to you to assist in your platform due diligence and selection
- Sense-checking and guidance from The Platforum team
- Platform selection report – print out your shortlist to form a part of your due diligence documentation
- An annual subscription to PAT costs £299 +VAT. Click here to see more detail about our Platform Analysis Tool.
PAT spends her time talking to lots of IFAs – please click here to view her monthly escapades and leave your comments. She’d love you hear from you.
The PAT tool can be accessed by registered advisers HERE
Follow @PlatforumPAT
It's our insurance policy
George Chappell, Blackdog IFA
User Leaderboard
With the rise of platforms, and increasing due diligence requirements, there is more and more information for IFAs to process. Our free service for IFAs who register on the site shows how your peers rate the platforms they are using. What is service like? What about the website? And does the platform provide value for money? This is our User Leaderboard. Please have a look and add your review to the 1,700 reviews we have collected so far.
Ad Hoc Platform Consultancy
We have additionally conducted bespoke selection and due diligence projects for several adviser firms, from a small firm with 5 RIs to large networks and nationals. Please contact Emma for details.
We’re also talking to more adviser firms about implementation of an execution-only platform or adoption of a corporate platform (talk to Jeremy).
We like IFAs, we’re always interested in what’s going on and we are always happy to share an independent view and provide a steer. We don’t sell your contact details or try to convince platforms or fund managers to pay us for leads. We’ll give you a genuine, independent and expert view – please get in touch!
PAT•PAT's Blog•Archive of Weekly Newsletters
FATCA – update for advisersIn the past few weeks I have been reading more and more about FATCA, the term for the new Foreign Account Tax Compliance Act which comes into force on 1st January 2013 – a date already firm in our minds. Read more
Over half of our 10,200 subscribers are registered IFAs and we have developed services specifically for you:
- User Leaderboard – how your IFA peers rate the platforms they are using
- PAT – our Platform Analysis Tool
- Regional events
- Consultancy
The Platforum MD Holly Mackay talks about due diligence, platform selection and PAT in this short video clip.
Recent Articles for IFAs
Panacea Social Stream is now open for business with one month FREE trial
10th April 2013
At Panacea Adviser we are always looking at ways to Financial Advisers with their business. Consequently we have launched the Panacea Social Stream.
"What does the future look like for your clients?" by AEGON
26th November 2012
People live in the here and now; their horizons are around 10 years and often less when absorbed with very busy ‘time poor’ lives. More than 70%* acknowledge that they’re responsible for saving for their own retirement, but relatively few actually believe that they’re on course to reach their desired level of income. Despite this, many aren’t taking any action either because they feel they can’t afford to or they don’t know where to start. This inertia will be countered by the introduction of auto enrolment where employers will be forced to contribute to a pension scheme for their employees.
"One life. One platform." by AEGON
6th November 2012
This article highlights key findings of AEGON’s recent research into the current prevailing attitudes on retirement planning and personal expectations among the current working generation.
"Demonstrating the value of financial advice" by Standard Life's Dave McGovern
24th September 2012
The requirement to disclose adviser charges in cash terms puts a definite price tag on financial advice. Asking someone to pay what might be a few thousand pounds a year is, psychologically at least, quite different to quoting a 1% ongoing charge.
We are pleased to announce our association with Panacea Adviser
14th August 2012
Our role is to provide help and guidance to IFAs looking for information on platforms in general as well as how to conduct good platform due diligence. Although not specifically related to platforms, the attached link shares the results of a recent survey conducted by Panacea with 500 IFAs about the FSCS proposed levy. We thought this information was interesting to share with Platforum IFAs.
"Skandia: from Marmite to strawberry jam?" by The Platforum's Holly Mackay
8th August 2012
Skandia has always been the platform which polarises opinion the most in the market. So it’s quite difficult to wade through the noise around the Marmite of platforms and get to an unbiased opinion about their new pricing structure.
"FATCA – update for advisers" by The Platforum's PAT
1st August 2012
In the past few weeks I have been reading more and more about FATCA, the term for the new Foreign Account Tax Compliance Act which comes into force on 1st January 2013 – a date already firm in our minds.
"Platform use, independence and the old one or two question" by The Platforum's Holly Mackay
31st July 2012
Some rumblings on Twitter this week after a piece we wrote on the growing amount of advisers who are re-considering using or adopting a secondary platform in light of recent FSA publications. The FSA has pointed us towards this 4 page factsheet as a useful read for advisers and has clarified some points with us.
"Planning for the future with confidence" by AXA's Mark Wilkinson
13th July 2012
With less than six months until R-Day, there’s no escaping the constant stream of RDR readiness news that’s hitting from all angles. For those of you still getting your businesses into shape for 2013 and beyond, the extent of that transformation process will no doubt have become very clear.
"Re-Registration" by Origo's Paul Pettitt
25th June 2012
As the eCommerce standards and services body for the UK Financial Services industry, Origo has over two decades experience of working with the different sectors of the market in developing technology Standards and solutions to improve the way the industry does business on a day-to-day basis.
"Origo Standards Prepare Market for RDR" by Origo's Paul Pettitt
11th June 2012
The platform market has seen rapid growth in the past few years – testified to by the large number of players now offering their services – and many financial advisers say they could not operate their business without the services of at least one platform. This is especially so where they are running model portfolios (45% of advisers use model portfolios today, according to The Platforum Adviser Platform Guide 10).
"What it means to be a mass affluent platform" by Aviva's Andy Beswick
18th May 2012
One of the most common themes we see at present is firms thinking carefully about the different service propositions they offer to clients, and the most appropriate platform solution to meet the needs of each client segment. This is driven by a number of factors: RDR, broader regulation and an increased desire by adviser firms to define the value propositions they offer clients.
“How the right platform can help you consolidate your clients’ investments” by Aviva's Phil Ralli
4th May 2012
We know that more and more of you are looking to platforms to consolidate your clients’ investments as RDR gets closer. There are many benefits to consolidation... and choosing the right platform can make the process much simpler for you.
"Should the world be flat? A new approach to pricing" by Alliance Trust Savings' Garry McLuckie
11th April 2012
It may be hard to believe that it is more than five years since the Retail Distribution Review hit the radar of advisers and providers. What seemed like a long way off is now less than 8 months away.
"PS12/3: Snatching defeat from the jaws of victory" by Cofunds' Stephen Mohan
7th March 2012
So here we are. It’s March in the countdown year to RDR implementation and the re-registration proposals in Policy Statement 12/3 could throttle the hard fought for industry momentum.
